August Brings Decreases US Corn and Canadian Crop Production and Yield Forecasts

Today Barchart has released their August 2022 Production and Yield forecasts for the United States and Canada. As harvest is rapidly approaching in the US and Canada, new forecasts indicate crops may yield below what is projected by the USDA and AAFC in their respective areas. 

US

Barchart's forecasts for end-of-season yield are 175.4 (bu/ac) for Corn, and 51.4 (bu/ac) for Beans. 

Corn production has declined to 14.5 billion bushels since Barchart’s August 2nd report while soybean production has increased to 4.6 billion bushels. This forecast places corn yields on par with the USDA’s most recent forecast, while the soybean forecast falls 0.6 (bu/ac) below the most recent USDA forecast. 

Barchart’s production forecast for corn and soybeans remains above the USDA’s projections of 14.4 billion bushels and 4.6 billion bushels respectively. 

CANADA

Barchart's forecasts for end-of-season yield are 52.3 (bu/ac) for spring wheat, and 43.7 (bu/ac) for beans. 
 

This places Barchart’s spring wheat forecast 1.8 bu/ac below the AAFC, and soybean forecasts 0.6 bu/ac under the AAFC's most recent forecast.
 

Barchart's forecasts for end-of-season production are 933 million bushels for spring wheat, which is a 6 million bushel decline since Barchat’s August 2nd report. Soybean forecasts have declined 1 million bushels in the last two weeks, now projected at 229 million bushels.

Barchart’s Crop Production and Yield Forecasts allow users to identify areas of opportunity before traditional USDA reports are released.  Bi-weekly crop production forecasts (US and Canada) are available to the public for free, while enterprise data and cmdtyView Pro clients have access to daily forecast updates.  

To learn more about Barchart’s Crop Production Forecasts or to receive API access, please visit our website.  To request access to cmdtyView Pro, the leading commodity trading platform, please click here.

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